First National Bank, Oakes, ND (Charter 6457)
First National Bank, Oakes, ND (Chartered 1902 - Closed (Merger) 1995)
Town History
Oakes is the most populous city in Dickey County, North Dakota. The population was 1,798 at the 2020 census. In 1900, the population was 668, growing to 1,709 by 1930.
Oakes was founded in 1886. It was named for Thomas Fletcher Oakes, president of the Northern Pacific Railway. A post office has been in operation in Oakes since 1886. The city was incorporated in 1888. Oakes sits approximately one mile east of the James river and is the meeting place of several rail lines. It is about 70 miles North of Aberdeen, South Dakota. Because of its rail access, Oakes is home to several major grain elevators that handle large volumes of grain, primarily corn.
Oakes had two National Banks chartered during the Bank Note Era, and both of those banks issued National Bank Notes.
Bank History
- Organized September 27, 1902
- Chartered October 14, 1902
- Opened for business November 10, 1902
- Succeeded Bank of Oakes
- Bank was Open past 1935
- For Bank History after 1935 see FDIC Bank History website
- Merged into First Southwest Bank in Bismarck, ND, October 10, 1995
In January 1887, T.F. Marshall of Yankton opened a bank at Oakes.[1] In March 1889, Howland & Goodrich, grocers, planned to erect a store building on the corner of Union and Second Street, opposite the Bank of Oakes.[2] W.H. Yerkes of Rochester, New York, was president of the Bank of Oakes and C. Baker, vice president.[3] In April 1889, Mr. H.C. McCartney, a nephew of Mr. and Mrs. T.F. Marshall, accepted a position in the Bank of Oakes.[4] In September, Mr. Marshall, the cashier of the Bank of Oakes, was nominated on the Republican ticket for state senator.[5]
In August 1902, the comptroller of the currency authorized the conversion of the Bank of Oakes, Oakes, North Dakota, to the First National Bank of Oakes with a capital of $25,000.[6]
In January 1904, C.A. Newton was promoted to assistant cashier in the First National Bank at Oakes. Charlie was a favorite with the bank with a host of friends in Oakes and Ellendale. T.F. Marshall was president and H.C. McCartney, cashier.[7] The bank's statement showed capital stock of $25,000, Surplus and undivided profits of $2,474.84, circulation $6,250, demand certificates of deposit $9,351.75, time certificates of deposits $43,727.28 and total resources of $161,855.50. T.F. Marshall, Eva E. Marshall, and B.C. McCartney were the directors that attested to the correctness of the statement.[8]
On September 14, 1905, the Forbes State Bank was issued an organization certificate to carry on the business of banking at Forbes, Dickey County, North Dakota. The shareholders, all of Oakes, were Thomas F. Marshall, 50 sh.; H.C. McCartney, 40 Sh.; and Eva E. Marshall, 10 sh.[9] These same capitalists organized the Fullerton State Bank with the same shareholder arrangement on November 17, 1905.[10]
In January 1907, J.E. Bunday became cashier of the First National Bank, resigning his place in the Oakes National bank, while Mr. H.C. McCartney became vice president.[11]
In August 1907, a Building and Loan Association was incorporated with capital of $250,000. A certificate was issued from Bismarck authorizing the company to do business. Among the incorporators were T.F. Marshall, E.E. Marshall, H.C. McCartney, A.F. Klein, H.J. Johnson, A.G. Ramharter, E.W. Bittman, and C.S. Brown. The company planned to meet soon for the purpose of organization.[12]
In January 1921, the officers were Thomas F. Marshall, president; H. Clay McCartney, vice president; Joseph E. Bunday, cashier; Glenn V. Dill and Addison H. Denning, assistant cashiers. The bank was associated with Marshall-McCartney Co. with combined resources of $1,200,000.[13]
On August 20, 1921, Thomas F. Marshall of Oakes, North Dakota, former Congressman from North Dakota, died at his summer home at Detroit Lakes, Minnesota. He was president of the First National Bank of Oakes, First State Bank of Verona, the Fullerton State Bank, the Guelph State Bank, the Dakota National Bank of Aberdeen, South Dakota, and president of the Marshall-McCartney Co., one of the big holding companies of the state. In 1878, Mr. Marshall was married to Miss Eva E. Grigsby of Missouri Valley, Iowa, a former school mate and sister of Colonel Melvin Grigsby, veteran of the Civil War and the author of the amendment which provided for the three Rough Rider Regiments in the Spanish American War of which he was Colonel of the 3rd Regiment.[14] In 1896 he was defeated for the United States Senate in the republican legislative caucus that chose United States Senator Porter J. McCumber by a margin of one vote.[15]
On Wednesday, October 13, 1954, H. Clay McCartney, 85, former president of Toro Manufacturing Co. died. McCartney was president of the First National Bank of Oakes and for many years served as a director of Midland National Bank of Minneapolis.[16]
In November 1995, First Southwest Bank planned to open two new Bismarck offices. First Southwest Bancorp, the holding company which also owned banks in Mandan, Ellendale and Oakes, consolidated its operations, a move that required three of the four banks to give up charters. Company founder Frank Larson bought First National Bank of Oakes in 1969, forming the foundation for what became First Southwest Bancorp. The company, formerly known as Nodak Bancorp, owned the First National Bank & Trust Co. of Ellendale since 1970 and First Southwest Bank of Mandan since 1989.[17]
Official Bank Title(s)
1: The First National Bank of Oakes, ND
Bank Note Types Issued
A total of $493,010 in National Bank Notes was issued by this bank between 1902 and 1935. This consisted of a total of 39,750 notes (30,496 large size and 9,254 small size notes).
This bank issued the following Types and Denominations of bank notes:
Series/Type Sheet/Denoms Serial#s Sheet Comments 1902 Red Seal 3x10-20 1 - 1156 1902 Date Back 3x10-20 1 - 1760 1902 Plain Back 3x10-20 1761 - 6468 1929 Type 1 6x10 1 - 1124 1929 Type 1 6x20 1 - 292 1929 Type 2 10 1 - 583 1929 Type 2 20 1 - 175
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1902 - 1935):
Presidents:
Cashiers:
Other Known Bank Note Signers
Bank Note History Links
Sources
- Oakes, ND, on Wikipedia
- Don C. Kelly, National Bank Notes, A Guide with Prices. 6th Edition (Oxford, OH: The Paper Money Institute, 2008).
- Dean Oakes and John Hickman, Standard Catalog of National Bank Notes. 2nd Edition (Iola, WI: Krause Publications, 1990).
- Banks & Bankers Historical Database (1782-1935), https://spmc.org/bank-note-history-project
- ↑ Jamestown Weekly Alert, Jamestown, ND, Thu., Jan. 6, 1887.
- ↑ The Oakes Times, Oakes, ND, Fri., Mar. 8, 1889.
- ↑ The Oakes Times, Oakes, ND, Fri., Mar. 15, 1889.
- ↑ The Oakes Times, Oakes, ND, Fri., Apr. 19, 1889.
- ↑ Bismarck Weekly Tribune, Bismarck, ND, Fri., Sep. 20, 1889.
- ↑ The Bismarck Tribune, Bismarck, ND, Wed., Aug. 6, 1902.
- ↑ The Oakes Times, Oakes, ND, Fri., Jan. 22, 1904.
- ↑ The Oakes Times, Oakes, ND, Fri., Jan. 29, 1904.
- ↑ The Oakes Times, Oakes, ND, Thu., Sep. 28, 1905.
- ↑ The Oakes Times, Oakes, ND, Thu., Jan. 4, 1906.
- ↑ The Wahpeton Times, Wahpeton, ND, Thu., Jan. 24, 1907.
- ↑ The Oakes Times, Oakes, ND, Thu., Aug. 8, 1907.
- ↑ The Oakes Times, Oakes, ND, Thu., Jan. 6, 1921.
- ↑ Jamestown Weekly Alert, Jamestown, ND, Thu., Aug. 25, 1921.
- ↑ Morning Pioneer, Mandan, ND, Fri., Aug. 19, 1921.
- ↑ The Bismarck Tribune, Bismarck, ND, Thu., Oct. 14, 1954.
- ↑ The Bismarck Tribune, Bismarck, ND, Sun., Nov. 5, 1995.